The United Kingdom has left the European Union on 31 January 2020. Under the Withdrawal Agreement reached between the EU and UK, the EU legislation will continue to apply in the UK during the transition period that is due to last until 31 December 2020. After the end of the transition period EU law will stop to apply in the UK from 1 January 2021 and from  that date provision of financial services from UK authorised institutions to EU customers on a cross-border basis (passporting) will no longer be possible.

This page provides an overview of all the communications EBA has issued in relation to Brexit.


  • EBA informs customers of UK financial institutions about the end of the Brexit transition period

    This statement clarifies previous EBA statements regarding Brexit for the benefit of consumers across the EU. In particular, the EBA  explains the impact that the end of the transition period will have on them by clarifying the level of preparedness required from UK financial institutions, the changes that EU-based payment service providers will need to make when facilitating cross-border payments to the UK, the access to accounts and deposits held in the UK, as well as how to obtain more information. 


  • ESAs highlight the change in the status of Simple, Transparent and Standardised (STS) securitisation transactions at the end of the UK transition period

    The Joint Committee of the European Supervisory Authorities (ESAs) – ESMA, EBA and EIOPA – wish to highlight the impact in the change of status of ‘Simple, Transparent and Standardised’ (STS) securitisation transactions after the end of the Transition Period on 31 December 2020.


  • The EBA reminds financial institutions of the need for readiness in view of the Brexit transition period ending on 31 December 2020

    In November 2020 in a follow up communication regarding readiness for the end of transition period, the EBA recalled the readiness messages and provided additional details in the area of payments, in particular regarding the revocation of eIDAS certificates and the need to provide additional details regarding the payers and the payee for the cross-border payments between the EU and UK. In this communication the EBA also made the point for large corporate and institutions customers, considering checking with their UK-based financial service providers to confirm whether they have obtained all necessary authorisations from EU competent authorities to continue to providing services to EU-based customers after the end of the transition period.


  • The EBA calls on financial institutions to finalise preparations for the end of the transitional arrangements between the EU and UK

    In July 2020, the EBA stressed in a communication on the need for the institutions to finalise their preparations for the end of the transition period noting that the provision of cross-border services (passporting) from the UK into the EU will no longer be possible without a proper authorisation. The EBA recalled on the need for institutions to continue to ramp up EU operations and move towards their target operating models agreed with supervisors as part of their authorisations.


  • EBA urges continued progress in financial institutions’ preparations for the UK’s departure from the EU

    In October 2019, in a dedicated communication, the EBA stressed the need for financial institutions to ensure the execution of their contingency plans and their establishment in the EU in accordance with the plans agreed with their respective competent authorities. Furthermore, the EBA stressed the need for Brexit-affected institutions to ensure adequate communication of Brexit-related risks, plans and changes to their EU customers.


  • Opinion on deposit protection issues stemming from the withdrawal of the UK from the EU

    In March 2019, the third EBA Brexit-related Opinion focused on deposit protection issues and the need to ensure adequate coverage and protection of customers’ deposits held in branches of UK credit institutions in the EU, as well as the provision of adequate information to such depositors.


  • Communication on Brexit

    In December 2018, through a communication, the EBA noted progress made by the financial institutions in preparations for a ‘no deal’ scenario, but called for more action, in particular, in informing their EU-based customer.


  • Opinion on preparations for the withdrawal of the UK from the EU

    In June 2018, in the Opinion on preparations for the withdrawal of the United Kingdom from the EU, the EBA focused on the risks posed by the seeming lack of adequate contingency preparations by financial institutions with a view to ensure that they (1) establish whether they have direct or indirect exposures to the UK, and (2) consider the risks concerned, and associated mitigating action and contingency plans, and duly execute their contingency plans.


  • Opinion on issues related to the UK withdrawal from the EU

    In October 2017, the Opinion on issues related to the UK withdrawal from the EU focused on the application of the EU prudential framework for the financial institutions affected by such withdrawal, in particular in relation to (i) authorisations; (ii) internal models (iii) internal governance, outsourcing, risk transfers and ‘empty shell’ companies (iv) resolution framework; and (v) deposit guarantee schemes.